Britannia Industries reported a consolidated profit of Rs 360 crore in the January-March quarter of the financial year 2020-21, registering a 3.3 per cent decline in profit year-on-year, compared to Rs 372 crore in the corresponding period of previous fiscal. According to a regulatory filing by the firm to the BSE on Tuesday, April 27, the company’s consolidated revenue from operations stood at Rs 3,130.7 crore in the quarter ended March 2021. The country’s leading biscuit manufacturer reported its operating performance in the fourth quarter of fiscal 2020-21 lower than analysts’ estimates.
The company’s total revenue from operations witnessed an increase of 9.2 per cent year-on-year in the March quarter, compared to Rs 2,867.70 crore in the year-ago period.
”Despite the adverse conditions, we managed to deliver good results in terms of topline growth, profitability improvement and market share gains,” said said Mr. Varun Berry, Managing Director, Britannia. According to the Managing Director, Britannia implemented three transformational digital projects – an Online Dealer Management System, an Integrated Vendor Management System, and S4 HANA, in the last quarter of the year.
Mr Berry noted that during the January-March quarter, the company focussed on the basic building blocks of brand building, rural distribution, and direct reach. The company’s cost efficiency program for the year delivered the targeted results, delivering strong cost leadership.
He added that on the commodity cost front, packing material, palm oil, as well as dairy products registered steep increases, while strategic buying helped the company manage the cost increases in a better way.
On Tuesday, shares of Britannia Industries settled 0.01 per cent higher at Rs 3,540 apiece on the BSE.